San Francisco, CA — June 12, 2025 — Cup Source, the leading wholesale supplier of premium cups, bowls, and beverage packaging, today announced the successful closure of a $25 million Series B funding round. The investment was led by Greenfield Ventures, with participation from existing investors Horizon Capital Partners and new entry by Alpine Growth Equity.
This marks the largest funding event in Cup Source's history since its founding in 2015 and underscores the growing global demand for high-quality, sustainable drinkware solutions. The capital will be deployed to accelerate the company's international expansion, open three new distribution centers across Europe and Asia, and further enhance its product innovation pipeline.
Key Facts at a Glance
This investment validates everything our team has built over the past decade. We set out to transform the disposable drinkware industry with a focus on sustainability, quality, and reliability — and this funding accelerates our mission to bring those solutions to businesses around the world.
— James Thornton, Founder & CEO of Cup SourceSince its inception, Cup Source has grown from a regional supplier serving California's café industry to a global wholesale partner trusted by over 2,000 businesses in 30+ countries. The company's catalog now spans over 10,000 SKUs, including eco-friendly paper cups, PET cold cups, takeaway bowls, lids, sleeves, and custom-branded packaging solutions.
Strategic Use of Funds
The $25 million raise will be allocated across four key growth initiatives designed to strengthen Cup Source's market position and operational capabilities:
1. International Distribution Expansion
Over $12 million will fund the construction and launch of three new distribution centers in Rotterdam, Netherlands; Singapore; and São Paulo, Brazil. These facilities will serve as regional hubs, enabling faster delivery times and reduced logistics costs for customers in Europe, Southeast Asia, and Latin America.
2. Product Innovation & R&D
A $5 million allocation will support Cup Source's R&D division, focusing on next-generation biodegradable materials, plant-based coatings, and proprietary insulation technologies. The company is currently developing a line of 100% home-compostable hot cups expected to launch in Q2 2026.
3. Technology & Platform Enhancement
$4 million will be invested in upgrading Cup Source's B2B ordering platform, adding real-time inventory tracking, AI-powered reorder recommendations, and seamless ERP integrations for enterprise clients.
4. Team Growth
The remaining $4 million will support the hiring of over 500 new employees across sales, operations, engineering, and customer success functions globally, nearly doubling the current headcount of approximately 600.
Investment Participants
Greenfield Ventures
Sustainability-focused growth stage fund with $2.1B AUM
Horizon Capital Partners
Followed their Series A investment from 2022
Alpine Growth Equity
Consumer goods & distribution specialist
Cup Source operates at the intersection of two massive trends: the global shift toward sustainable packaging and the continued growth of the food-service delivery economy. Their operational excellence and customer-first approach make them a standout in a fragmented industry.
— Lisa Nakamura, Managing Partner at Greenfield VenturesCompany Milestones
Cup Source's growth trajectory has been steady and impressive since its founding. Key milestones in the company's journey include:
2015 — Founded
Cup Source is founded in San Francisco by James Thornton, initially serving local cafés and restaurants.
2018 — First Distribution Hub
Opens a 100,000 sq ft warehouse in Distribution Center in Oakland, CA, scaling operations to serve the entire West Coast.
2020 — Sustainability Pledge
Commits to 100% recyclable or compostable product lines by 2027, launching its first biodegradable cup series.
2022 — Series A ($8M)
Raises $8 million in Series A led by Horizon Capital Partners. Revenue surpasses $40M annually.
2024 — Global Expansion
Enters markets in the UK, Australia, and Japan. Total customer base exceeds 2,000 businesses across 30+ countries.
2025 — Series B ($25M)
Closes largest funding round to date, positioning Cup Source as a global leader in wholesale drinkware distribution.
Looking Ahead
With this Series B funding, Cup Source is well-positioned to capture a larger share of the global disposable drinkware market, which is projected to reach $42.8 billion by 2028 according to industry analysts. The company aims to achieve revenue of $200M by 2027 and become the preferred wholesale partner for mid-market and enterprise food-service operators worldwide.
The disposable drinkware category is undergoing a transformation driven by environmental consciousness and supply chain modernization. Cup Source is uniquely positioned to lead this change with its vertically integrated operations, innovation focus, and scalable technology platform.
— David Park, Partner at Alpine Growth EquityThe company also announced plans to launch Cup Source Academy, a customer education initiative designed to help food-service operators optimize their packaging choices for sustainability, cost efficiency, and brand impact. The program will include webinars, workshops, and a publicly accessible resource library.
Interested in Partnering With Cup Source?
Whether you're a café, restaurant chain, or retailer — explore our wholesale catalog and request a custom quote today.
Get a Wholesale Quote →About Cup Source
Cup Source is a wholesale supplier of premium cups, bowls, and beverage packaging solutions for businesses worldwide. Founded in 2015 and headquartered in San Francisco, the company serves over 2,000 clients across 30+ countries with a catalog of 10,000+ SKUs. Cup Source is committed to sustainability, offering FDA-compliant, eco-friendly products that combine quality with affordability. The company is ISO 9001 certified and has received recognition from the Sustainable Packaging Coalition for its industry leadership. For more information, visit www.cupsourcing.com.
About the Investors
Greenfield Ventures is a sustainability-focused growth equity fund with $2.1 billion in assets under management. The firm invests in companies that are driving positive environmental and social impact across consumer goods, packaging, and logistics. Horizon Capital Partners is a venture capital firm specializing in B2B technology and supply chain innovations. Alpine Growth Equity focuses on mid-market consumer goods companies with strong growth potential in North America and emerging markets.
Media Contact
Cup Source Press Office
Name: Rachel Torres, VP of Communications
Email: press@cupsourcing.com
Phone: +1 (415) 555-0187
Press Kit: www.cupsourcing.com/press